Coinbase Global generates the bulk of its revenues from transaction fees, the largest but most volatile income source.
Coinbase Global (COIN) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Coinbase reportedly knew in January about a data breach at an outsourcing company that it publicly disclosed May 14 in a filing with the Securities and Exchange Commission (SEC).
Cryptocurrency exchange Coinbase knew as far back as January about a customer data leak at an outsourcing company connected to a larger breach estimated to cost up to $400 million, six people familiar with the matter told Reuters.
Coinbase became the first crypto-native company in the S&P 500, signaling broader institutional acceptance of digital assets. COIN dominates crypto custody, holding keys for 90% of Bitcoin ETF assets as well as keys for the US Marshals Service. The investment case hinges on retail trading growth and institutional bitcoin adoption. Subscription & services revenue is the signal in its Q1 results and transaction revenues are noise.
The boom in Bitcoin is driving both stocks. But Robinhood is on a meteoric rise because of the very obvious rebound in riskier stocks.
COIN gains 6% YTD as crypto tailwinds boost revenues. Block drops 31% amid fintech rivalry and weak consumer spending.
Major U.S. equities indexes were mixed on Thursday after the House of Representatives passed a far-reaching budget bill that includes significant tax cuts and reduced spending on government health care and food assistance programs. The proposed budget will now head to the Senate, where it could see changes and amendments.
Coinbase said at least 69,461 customers had personal and financial information stolen during a months-long data breach that it disclosed last week.
Coinbase Global (NASDAQ:COIN) has garnered significant attention recently, surging over 25% last week. This upward momentum followed its inclusion as the first crypto exchange stock in the broader S&P 500 index, taking the place of Discover Financial Services, which is in the process of being acquired by Capital One.
Coinbase's S&P 500 inclusion is a massive liquidity event, driving momentum and attracting institutional investors, making it a unique, premium crypto investment. Regulatory progress like the STABLE Act and USDC growth, plus the Deribit acquisition, position Coinbase for long-term success as crypto adoption accelerates. Despite cybersecurity incidents, Coinbase's proactive response and industry-leading transparency reinforce its resilience and investor confidence.
Coinbase disclosed that the cybersecurity incident it reported Thursday (May 15) could cost it as much as $400 million. The company's investigation into the incident is still underway, so the full impact of the cyberattack is not yet known, Coinbase said in a filing with the Securities and Exchange Commission (SEC).